Buy a property in Malta is an excellent choice for anyone looking to move or invest abroad. The small island offers a variety of real estate options to choose from, from modern buildings to historical houses. Its beautiful weather, prosperous culture and recreational areas are just some of the reasons why it attracts many investors. Buying property in Malta can be an exciting and fulfilling experience, but it’s important to understand the rules and regulations to make the process easier.
Malta is one of the most affordable EU countries to purchase property. For example, properties costing under EUR 350,000 can get you an apartment in the city center. The capital, Valletta, is known for its stunning architecture and thriving cultural scene, while the northern region of Gozo is a more tranquil place to live.
Luxury Living in the Mediterranean: Buying Property in Malta
In general, the purchase process is relatively straightforward and quick. The first step is to search for a property that meets your needs, either online or by contacting a real estate agent. Once you’ve found a property that suits your preferences, contact the seller and negotiate. Once both parties are satisfied with the terms, a Konvenju, or Promise of Sale, will be drawn up by a notary.
If you’re looking to buy property in Malta under the Individual Investor Programme (AIP), you will need to apply for an AIP permit. This is a special type of residence permit that lets you purchase and rent out several properties.